573 Nebraska Ave - Apartments FOR SALE


Long Beach, CA 90802- Downtown Long Beach
$1,395,000 USD
310-982-7055
573 Nebraska Ave, Long Beach, CA for Sale
$1,395,000 USD
Apartments - FOR SALE
1/17
null | 4.7% Cap Rate

573 Nebraska Ave
Long Beach, CA 90802
Downtown Long Beach


HIGHLIGHTS

  • Ideal location in the heart of Alamitos Beach only 5 blocks to the sand.
  • 3 blocks from Downtown Long Beach's East Village Arts District with numerous restaurants, retail, and entertainment options.
  • Over $8 Billion in new development in the immediate vicinity.
  • 63% of households within 5 miles are renters with an average household income of $98,000+ (per CoStar research).

OVERVIEW

Huge 1960's construction 4 unit in 5 blocks to the beach with all townhome style units. Extra large owner's unit currently configured as 2 beds and 2 baths, but originally 3 beds with primary suites. Three other large two story 2 bedroom units, one with 1 bath, and two with 2 baths. 2 out of 4 units recently remodeled with vinyl floors, new kitchens, and bathrooms. Large lot with 5 garages spaces plus extra square footage in the rear. Very attractive metrics at $291/square foot, 12.3X GRM on actuals with a significant 16% upside to 10.5X GRM and a market cap rate of 5.8%

FOR SALE DETAILS

PRICE

$1,395,000 USD

PRICE/SF

$291 USD /SF

# OF UNITS

4

PRICE/UNIT

$348,750

CAP RATE

4.7%

% LEASED

-

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY TYPE

Multi-Family

APARTMENT STYLE

Low-Rise

PROPERTY SUBTYPE

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

1967

PARKING SPACES

-

LAND DETAILS

LAND ACRES

0.17 AC

LAND SF

7,388 SF

ZONING

LBR3T

APN/PARCEL ID

7266-016-024

ASK ABOUT THIS PROPERTY

Anthony WalkerBuckingham InvestmentsMore Info
310-982-7055

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Anthony WalkerBuckingham InvestmentsMore Info
310-982-7055

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.